Borrow Money to Buy a Purified Water To Go Franchise

Need money to invest in a Purified Water To Go franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Akron, Ohio and are interested in buying a Purified Water To Go franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JAMES M. DREY, L.L.C.
AKRON, OH 44313

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

312112 - Bottled Water Manufacturing

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Purified Water To Go franchise. At the time of the loan, the company had 13 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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